Snowflake Q2 Earnings: Revenue Beat, EPS Beat, Raised Guidance, Additional $2.5B Buyback, 'Great Traction' With AI Products
Portfolio Pulse from Adam Eckert
Snowflake Inc (NASDAQ:SNOW) reported strong Q2 earnings, beating revenue and EPS estimates. The company raised its guidance and announced a $2.5 billion share buyback. Despite positive results, shares fell 6.71% in after-hours trading.
August 21, 2024 | 8:29 pm
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Snowflake reported Q2 earnings that exceeded expectations, with revenue and EPS both beating estimates. The company raised its full-year guidance and announced a $2.5 billion share buyback. Despite these positive developments, the stock fell 6.71% in after-hours trading.
Snowflake's strong earnings report, raised guidance, and significant share buyback are positive indicators for the company's future performance. However, the immediate market reaction was negative, possibly due to profit-taking or broader market conditions. The long-term outlook remains positive given the company's growth and innovation in AI products.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100